Traditional fishing boats sail as Mozambique's tuna fleet sits in dock beneath Maputo's skyline, in this picture taken August 15, 2015.
REUTERS/Grant Lee Neuenburg/File Photo Acquire Licensing RightsLONDON, Oct 17 (Reuters) - Mozambique is seeking more than $3 billion in damages from Emirati-Lebanese shipbuilder Privinvest over the decade-old "tuna bond" scandal, London's High Court heard on Tuesday.
The case centres on deals struck by state-owned companies with Privinvest for loans and bonds from banks including Credit Suisse in 2013 and 2014 for fishing boats and maritime security.
Mozambique alleged Privinvest paid bribes on an "industrial scale", involving the "grand corruption" of officials including Mozambique's former Finance Minister Manuel Chang, court filings showed.
Chang was extradited to the U.S., where in July he pleaded not guilty to fraud and money laundering charges related to the tuna bonds scandal.
Persons:
Grant Lee Neuenburg, Privinvest, Jonathan Adkin, Iskandar Safa, Safa, Manuel Chang, Chang, Adkin, Sam Tobin, Kirstin Ridley, Cynthia Osterman
Organizations:
REUTERS, Privinvest, UBS, Credit Suisse, International Monetary Fund, Thomson
Locations:
Maputo's, Mozambique, Safa, U.S, London's